Copper futures rose in the domestic market on Thursday as investors weighed upbeat US data and after a fire at Mongolia’s biggest copper-and gold mine raised supply fears. Private employment in the US topped the 200K mark for the seventh time in eight months while services expanded at a faster than expected clip in November, signaling optimism over the health of the world’s biggest economy, lifting the demand outlook for industrial metals. A fire at the ore concentrator at Mongolia’s Oyu Tolgoi copper mine was brought under control and is being investigated, Turquoise Hill Resources Ltd., which co-owns the mine, said. At the MCX, Copper futures for February 2014 contract is trading at Rs. 402.05 per 1 kg, up by 0.85 per cent, after opening at Rs. 399.50, against the previous closing price of Rs. 398.65. It touched an intra-day high of Rs 403.50. (At 11:10 AM).

CRUDE OIL

Crude oil futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity tracking gains in the overseas market after an unexpected drop in US crude oil supplies signaled easing concerns over a supply glut in the global oil market.. At the MCX, Crude Oil futures, for the December 2014 contract, is trading at Rs 4,223 per barrel, up by 0.86 per cent, after opening at Rs 4,200, against a previous close of Rs 4,187. It touched an intra-day high of Rs 4,237. (At 11:01 AM).

Agro Outlook

D A I L Y B U Z Z

CASTOR SEED

Castorseed prices fell by 1.44 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for December 2014 contract was trading at Rs. 4,527 per quintal tonnes, down by 1.44 per cent, after opening at Rs. 4,598 against the previous closing price of Rs. 4,593. It touched the intra-day low of Rs. 4,511 till the trading. (At 12.53 PM )